Although I am not an investor in BS&T, my position is that there is insufficient evidence to declare a default, and the exit strategy so far is not indicative of a looming default or an elaborate scam set up. There are many reasons why I believe this to be so, but they do not belong in this thread.
As someone who had experience with a similar ponzi, I can tell you that this one is following it perfectly. The guy in charge continuing to communicate, claims that money is tied up in assets, apologies and attempts to get the money back, and very slowly paying people back from sold assets over the course of a few weeks, before finally collapsing. If this wasn't a ponzi, I'd like to know what business you can think of that can consistently pay 7%, or even 3% a week for a year.
